Stock gains may be limited on Tuesday by markets concerns regarding Ukraine. The U.S. and Europe slapped more sanctions on Russia on Monday, including visa bans on those close to Russia's President Vladimir Putin.

Meanwhile, the monthly Federal Open Market Committee policy meeting will start on Tuesday. At the subsequent press conference on Wednesday, traders will listen for any hints as to when interest rates could rise.

On Friday, there will be April's official non-farm payrolls (NFP) employment report.

"Expectations are for the NFP print to cross over the Federal Reserve's 200,000 mark to 205,000....maybe the first time in 2014 we will see the 200,000-mark cracked and the first time since the winter freeze," Evan Lucas, market strategist at IG Markets, said in a morning note.